Business
Enablence Technologies Announces Changes to Management Team
Ottawa, Ontario--(Newsfile Corp. - May 26, 2020) - Enablence Technologies Inc. (TSXV: ENA) ("E...
About this update from Enablence Technologies Inc.
[{"type":"text","content":"Enablence Technologies Announces Changes to Management TeamOttawa, Ontario--(Newsfile Corp. - May 26, 2020) - Enablence Technologies Inc. (TSXV: ENA) (\"Enablence\" or the \"Company\"), a leading supplier of optical components and subsystems, today announced changes to its management team. Steve Wang has decided to move on from Enablence to take a role at a company outside the optical industry. Mr. Wang was hired with a mandate to focus the Company's strategy on its industry leading optical chip design for data center and 5G telecommunications markets. This strategic focus has paid off with multiple design-in successes and business growing with several customers. Therefore, it is an appropriate time to transition the leadership of the company to focus on revenue growth and profitability. Scott Larin, Chief Financial Officer, and Ashok Balakrishnan, co-founder and Vice-President, Engineering, will assume the roles of co-Chief Executive Officers of Enablence, subject to TSX Venture Exchange approval. Mr. Larin will also retain the role of Chief Financial Officer and Mr. Balakrishnan will also be promoted to Chief Technology Officer. The Company and the Board of Directors are pleased to have Mr. Larin and Mr. Balakrishnan jointly guide the Company into a new phase of growth.About Enablence Technologies Inc.Enablence is a publicly traded company that designs, manufactures and sells optical components and subsystems to a global customer base. It utilizes its patented technologies, including planar lightwave circuit intellectual property, in the production of an array of photonic components and broadband subsystems that deliver a key portion of the infrastructure for current and next-generation telecommunication systems. The Company's components are key elements in large optical network infrastructure builds which enable global networking and large-scale computing for businesses and individuals, including data centers and 5G telecommunications networks. For more information, visit www.enablence.com.Forward-looking StatementsThis press release contains forward-looking statements regarding the Company based on current expectations and assumptions of management, which involve known and unknown risks and uncertainties associated with our business and the economic environment in which the business operates. All such statements are forward-...